August 9, 2022

How to Be 'Successfully Unemployed' to Kick Your Investing into High Gear - Dustin Heiner

In the conversation with Dustin Heiner, you’ll hear how he found his niche in Real Asset investing, and how he is helping others find the same financial freedom that he's achieved.
Billy Keels
CEO and Founder FGCP

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Going Long Podcast Episode 236: How to Be 'Successfully Unemployed' to Kick Your Investing into High Gear 

In the conversation with today’s guest, Dustin Heiner, you’ll learn the following:

  • [00:30 - 03:08] Show introduction with comments from Billy.
  • [03:08 - 07:03] Guest introduction and first questions.
  • [07:03 - 17:10] The backstory and decisions made that led Dustin to this point in his journey.
  • [17:10 - 20:48] How Dustin felt emotionally when he was laid off / made redundant.
  • [20:48 - 29:18] Dustin tells us about his own particular niche in Real Asset investing, and how he is able to help others with it today.
  • [29:18 - 35:52] How Dustin is educating others on how they can reach their financial freedom goals through real estate investing.


Here’s what Dustin shared with us during today’s conversation:  

  • Where in the world Dustin is based currently: Phoenix, Arizona.
  • The most positive thing to happen in the past 24 hours: Moved into a new church and had 100 people for his first prayer meeting!
  • Favourite European city: Rome, Italy.
  • A mistake that Dustin would like you to learn from so that you don’t have to pay full price: Make sure you build the business / team first before making the investments!
  • Book Recommendations: The Holy Bible, and The Richest Man in Babylon by George Samuel Clason.


Be sure to reach out and connect with Dustin Heiner by using the info below:   

 

To see the Video Version of today’s conversation just CLICK HERE.

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Episode Transcript

SUMMARY KEYWORDS

people, Dustin, realized,literally, business, passive income, multifamily, money, property, job,investing, family, life, podcast, real estate, Billy, property manager, quit,helping, buy

SPEAKERS

Billy Keels

 

Billy Keels  00:00

Today's conversation issponsored by first generation Capital Partners. If you're an accreditedinvestor, and you want to know about how we're helping other accreditedinvestors keep more of their income, go to first gen cpe.com forward slashgoing well.

 

00:12

I cannot get enough ofserving people because like I said, the more lives that I touch, the morepeople that I serve, the better my life gets in, the better everybody else'slife gets.

 

00:22

You're listening to the goinglong podcast with Billy keels, the number one podcast for long distance realasset investing.

 

Billy Keels  00:32

Welcome to the gold longpodcast, we're back once again to continue to help to educate you so you feelmuch more comfortable as well as confident investing beyond your backyard. Andyes, I am your host, Billy keels. And I'm really, really looking forward towelcoming you back to today's conversation, because it is another awesomeconversation. So listen, we continue to move up the charts together, I reallywant to thank you for that so many of you continue to download you continue toshare. And also, you continue to leave your honest written reviews as well asratings. And if you haven't done that yet, take just a couple of seconds. Ifyou need some help, especially on the Apple podcast platform, we've got alittle video here, leave it let us know what you'd like what you'd like to seechange. I know you've seen some changes that are you're enjoying already. Somake sure you take a second to do that. And we'll continue to move up thecharts together. And also, we have a new home for every single podcast, all thetranscripts, the videos, the audio version, just go to first uncp.com forwardslash podcast and you can check out every single episode we've ever done over220 Some episodes at this point in time, and know you're gonna love it. This isfeedback we're taking from you. And also making sure that we're giving you thebest possible podcast out there. So listen, if you want to understand about howto master passive income, how you can become successfully unemployed, today'sguest is really going to give you some insights, you're going to enjoy it,you're going to have great insights with today's guest, who is Dustin Heiner,and we're gonna get to that just after this. Are you a busy high paidprofessional, someone that in the previous two years has earned $200,000 and isexpected to earn $200,000 this year. Or maybe if you file jointly, previously,you've earned $300,000 The previous two years and you're also expected to dothat this year. Or maybe if not, either individually or jointly, you have amillion dollars in net worth not including your primary residence. If you meetany of these criteria, then you're someone that the IRS considers to be anaccredited investor, that probably means you're someone like an enterprisesoftware sales executive, you may be an executive in a major corporation, youmay be a doctor, you may be a lawyer, maybe a high paid consultant, you mayhave even worked for a major sports franchise, the thing I know you have incommon is that you continue to do the hard work like you're doing 100% of thework. And you're only bringing home 50% of the reward because you continue toget crushed by your income taxes. If you're tired of this situation and you'relooking for a new solution, then go to first gen cp.com forward slash goinglong. When you get there, that's going to help you to start the journey so thatyou can begin to take back control of your taxes take control of your time. Andthen also that means you're going to be able to spend more of the time that youwant with the people that you love the most. And that is the way that you'regoing to get the personal freedom that you're looking for. So if you're lookingto take back control, go ahead and go to first ncp.com forward slash going longand see how we can help you today. So, you know, if you want to learn how to besuccessfully unplug unemployed, so that you can, you know, kick off your longdistance investing success into really even higher gear thing, guess what,today's a conversation that you're gonna want to listen to until the very lastword I promise. You know why? Because listen to this. Today's guest not onlydid his undergrad studies at Cal State University Fresno, he also is on amission to help you get more out of life and stop struggling with yourfinances. He wants to help you to master passive income. And ultimately hewants you to become get this successfully unemployed. He's a four time authorwith his most recent book, which is how to quit your job with rental properties.And he's also the host of two amazingly popular podcast. The very first one ismaster passive income and the second is successfully unemployed. It gives megreat pleasure to welcome to today's conversation, Mr. Dustin Heiner, Dustin,welcome to show, man.

 

04:06

Hey, Billy, thank you so muchfor having me on the show. I was just so awesome. having you on the show islike Man, that's a great meeting like minded people that we just want to help.And it just, it's so enjoyable, seeing your enthusiasm, hopefully a couple ofmy enthusiasm, everybody's gonna get pumped that we can all change our livestogether. I mean, you and I were just like normal people next door neighboursthat have done this. We're going to help other people do it too.

 

Billy Keels  04:28

Yep, exactly. And you knowwhat the best part about this is, aside from the enthusiasm, the expertise thatyou have, and the perspective that you have on life context, I know it's gonnaadd so much value to the global family. I just want to jump into theconversation. But let's get ready. Let's get right into, you know, you're gonnaget five questions, you're gonna get two in the beginning, you're gonna getthree in the end in the middle, you're actually going to get more than fivequestions because you're gonna get a lot of questions in the media in themiddle. I just don't know what those questions are yet. So the very firstquestion though, is help us understand Destin, where is it that you reside? Inthe United States,

 

05:01

Phoenix, Arizona, I didn'tstart that way. I started in California, Fresno, California, about five yearsago moved from California into Phoenix. My in laws live here. We want to becloser to my wife's parents. And so we're in Phoenix Arizona actually love Phoenix.It's, it's it's beautiful here.

 

Billy Keels  05:16

Yeah, just flew through therenot too long ago, and I didn't have that much time to stick around. But I dolove Phoenix. It's a very, very nice place. And my wife also likes it too. Sothere's kudos. Here's the thing. Question number two, help us understand. Sowhat is the most positive thing that's happened to you in the last 24 hours?

 

05:33

Oh, yeah. 24 hours. So I goto church. And we're really blessed that my church that we've had with, we started,like, in 2020, when I first started going there, 150 Now put about 250 peoplethere. And then in the last two years, it's grown now we're like, 1000, people.Fast forward. Now. We had to buy a new church location, like the campus andpraise the Lord, we raised like $3 million in eight months. It was amazing. Andwe're so we're buying this property, no debt. So yesterday, which was obviously24 hours, moving boxes, you know, moving boxes into trucks moving all like tothe new campus. And then at night, at 630. At night, we had a prayer meeting,because it's the first time being in the building, being in the new campus, wehad a prayer meeting, oh, I want to say we got to almost 100 people there forthe prayer meeting, which is, it's an hour long prayer meeting, most peopledon't like nobody goes a prayer meeting. So it was a blessing, get a million or100 people. And I lead that too. And so that was a huge blessing to be a partof that.

 

Billy Keels  06:31

Wow, fantastic. Well, Ireally appreciate you sharing that with this. And it sounds like the lots ofmomentum that continues to build and no doubt because you're behind that. And Iappreciate you sharing that, that positivity. And you know, it doesn't I kindof have to make this. I'm gonna tell you something that I don't really share alot of secrets all the time right away. But you know, we know one anotheralready. So I tend to keep the bar pretty, pretty high, like a very highstandard, and sometimes doesn't, it makes me do things that are a little bitunreasonable. For instance, I tried to tell your entire backstory in like oneand a half seconds. That's not possible, right? Because you've done way too,but you've impacted way too many lives. And well, but I just try, I always try,I'm always striving to be a better person and do things that I didn't think Icould do. And I wasn't able to tell your whole backstory. So what I'd love foryou to do is please share your backstory with me in the going long family, youcan do it in taking much longer than one and a half seconds, you can tell yourown story in your own time. And then also, if you could talk to us about maybesome of the major decisions that you've made along the way, just a really alsohelp us understand what is what is your journey been like up until now? Andthen we'll see where you and I take the conversation from there.

 

07:41

Yeah, yeah, absolutely. Soyeah, I'll fast forward to the story to the end. But I'll go back to beginningso when I was 37 years old, I was blessed to be able to quit my job. And thereason why is because I own real estate, I own rental properties that make me$250 or more in passive income from every single property, eventually 30 Plusproperties. I was like, Oh, my goodness, why am I working here. So I'll go backto the beginning, which this is, I gotta tell you the story, because this storyis really what catapulted me or like shoved me into really becoming a realestate investor. So I was going along, just like we all we grow up, and we'retaught that this is the path that we all are supposed to take. We go to school,we get good grades, and then we go to college, get good grades all over again,get in 1000s and 1000s of dollars into debt. And then you get a piece of paper.It's called the degree and you walk around to other companies. And you say,Hey, sir, can I have a career and you basically try to get a career and thenyou work 40 plus years of your life until you're 65 years old, and hopefullyretire on what you've managed to save that your entire life. And I was doingthat I was doing that same thing, but at the same time. I've always beenentrepreneurial, like entrepreneurial business minded. And so I started if youthink so I had a newspaper out most people don't know what newspapers areanymore. But I'd read around a bike exactly the odd Yes, yes.

 

09:00

A bicycle with new with bagswith newspapers, throw them at 5am Begum on garage doors, wake up people. Andthen I had a graphic website design company, and I had a skateboardmanufacturing business. I even started a pizzeria and a convenience store from theground up. Oh, these are all good businesses. But I was still following whatthey've all told me. I thought this should just be extra income, but theircareer was what I needed to do. So my wife and I bought one rental property.And I knew I needed to buy more because it was amazing. I was making moneywithout working like it was I was in California, but in Ohio, and I had abusiness setup where I basically had a property manager and all that to say, Iwas making money without working. I knew I needed to become an investor. Butlife got in the way. So if you could watch this in the video, my wife and Istarted having kid after kid we have four kids now so you can see the kids inthe background. And we started having child up to job and I'm still I'm workinga regular nine to five I work for the technology in one county department inCalifornia. I was working technology just doing it work and My wife and Istarted having kid after kid, we bought one rental property at the time. Butlife got in the way. Eventually we had our fourth child, my wife had her fourthchild. And I went on paternity leave from my job. And that's where the dadstays home with the mom changes poopy diapers and bombs with the baby and allthat good stuff. And so after about two weeks, I go back to work. And thatweek, I get back to work on a Friday at 330. In the afternoon, I get a callfrom my boss's Secretary like the top dog. I get a call from her. And she says,Dustin, would you please come to the office? And I said, Sure. And I hung upthe phone, and I paused for a second, I thought, Oh, my goodness, they nevercall me to the office. And I've seen plenty of movies. This is Friday at 430 or330. In afternoon, this isn't good. And then as I sat there, I paused and Ithought, Oh, my goodness, about two months prior, there was some rumours orsome rumblings going on in the office, that there could potentially be layoffsbecause they were running low on funds. And I really shut that off. I said, noway that can't happen to me. I have like 12 or 13 years seniority here. Mybosses give me a raise all the time, because they know what do I do, I believeI do a great job. So I shook it off. I get up out of my chair, and I walkeddown the hallway to my boss's office. Now I believe this hallway isn't verylong. In fact, it's, it's kind of short. But every single step that I take thehallway gets longer and longer and longer to build, like my feet become leadbricks, and the weight of everything starting to crush down and because I couldpotentially lose my job. Well, I get down the hallway, and I turn and I see myboss's door, his doors close. And I look at his secretary, super sweet, niceold lady. She's looking at me kind of, you know, grinning sheepishly, grinningat me kind of consoling me with her eyes. Because she knows everything aboutwhat's going on. I know nothing about what's going on. She says Dustin, wouldyou please have a seat? So I go and I sit down. And I sit there. And I amrealising that as I sit there all this life that I've been worth going toschool, getting grades and getting a career, if that's taken away from me rightnow, does that make my life? Like, did I waste my life? And then I startedthinking, Oh, my goodness, if I can't provide for my family, what does thatmake me as a father? Does that make me a failure as a father? Does it make me afailure as a husband as a man trying to provide for his family? Well, as I'msitting in my hands get all clammy, my forehead gets all sweaty because theweight of everything is just crashing down on me. Then the door to my boss'soffice opens up in our walks a lady, a co worker of mine with a piece of paperin her hands, she's noticeably distraught, noticeably upset. She's notnecessarily crying, but you can tell her world has absolutely been rocked. Andshe passes by me. And my boss says, Dustin, would you please come into theoffice. So I get up and I go into his office and I get laid off Billy, and thisis the government. Remember, this isn't the California this is the government,nobody gets fired or laid off from the government. But I did. So if it happenedto me, it can happen to anybody. Well, I take that layoff notice. And I walkback down to my desk, and I sit down on my desk, and I realize two things,sitting right there, then in there right after getting laid off. This is reasonwhy I tell the story. The first thing I realized was that I need to get anotherjob I need to be able to provide for my family. And so I was really, reallyblessed praise the Lord to be able to find another job in the same county,whole different apartment, great department and everything started workingthere. It was great. Check, got that done. But the second thing that I realizedand this is reason why I tell the story I need as I sitting in the chair, I realizedI need to make sure that this never ever happens to me again, I need to makesure nobody has the ability to take away my ability to feed my family. So rightthen and there, I realized that whenever anybody would ask me the question,Dustin, what do you do? They're basically asked me what value do I put onmyself? I would answer with my job. I would say Oh, I work for it at the catlocal county. This is what I do. I'm projecting my value as being my job. No,no, my value doesn't come from my job. My value comes from my cell from mygarden for my family. So right then they're sitting in a chair Billy, I realizedthat no longer will I ever tell anybody my value is in my job. I now say Inever realized because I knew I needed to be an investor, but life got in theway. And so I said from this point forward, I will tell every single personwhen they asked me that question, I will say I am an investor, it may so happenthat 100% of my money comes from my job. That's now my part time job. I am afull time investor. Fast forward the story started buying property afterproperty, each one making me $250 or more in passive income, you know, for you,it's down to three, two and one. And eventually I have 30 plus properties. I realizedoh my goodness, even though I'm making $75,000 a year at this job. It's a jlbI'm living just over broke as an acronym. And I realized I'm losing moneyworking here because you everybody needs to realize this. You are so much morevaluable than anybody could ever pay you and here's how you'll know that yourboss is paying you just enough to keep you working without quitting, but not somuch that's taking money out of their pocket. So once I realized that I realizedmy true value, I went to my new boss, great boss and all. After I had enoughproperties, I said, Hey, boss, I'm laying you off. Here's your layoff. Noticehe did it jokingly. And I said, Here's your two weeks notice. And he said,Dustin, what are you going to do? And I said, Well, I don't have to doanything. I own real estate. It literally works for me without working. It's, Ihad created an automatic business that literally doesn't take any of my time.And I make money. So I'll wrap up the story by sharing. I, if you remember thatstory, where I walked down the hallway, short hallway, they got longer, longer,longer. Well, I walked away from my job. For the very, very last time I wasworking in downtown, I was actually is a mile and a half walk because I didn'twant to pay for parking, because I'm really frugal. But I walked that walk 1000times, this was the best walk of my life, because I knew I would never everneed a job again. And I felt like I was walking on clouds because I was nowgetting paid for the value that I bring, as opposed to what somebody else saysMy time is worth. So I'll pause the story and let you ask because I know you'veprobably got plenty questions. No, I

 

Billy Keels  16:04

mean, what I like about whatyou're telling the story aside from, and this is something I also learned inthe corporate world is that you can don't turn try not to place your worthbased on the amount of money that you are being paid and the name of the titleassociated with your role. So the fact that you were able to understand thatyou began to project, the person that you were becoming, I think is a valuablelesson for everybody that is watching us and listening and listening to us. Andyes, you should check out the video version, everybody, because he does havehis beautiful family right over his right shoulder left side of the left sideof the screen. So you know, there's a there's a couple also, lessons there.Because I think one of the things that happens is when you are in a securerole, I mean, you're working for the state. And there, it can't be any saferthan that. Right? And in spite of that, you had that particular role that wasmade redundant, you found another role. But I guess my question for you was,even though you thought that that could have been a very, very remotepossibility, when it finally happened, did it make you emotionally feel asdifficult as your mind had made you believe it was going to be? Or was it lesswhen it actually happened? I would say you can recall that.

 

17:24

Yeah. I believe that when ithappened, it was devastating. But I knew that there was a plan to get out ofit. Meaning there's a way to do it. I just needed to figure it out. And this isthis kind of funny. So it with my four kids. You know, we're hires last namesHeiner. And if they can't, they're like, Oh, I can't do this. I say, Hey, you'rea Heiner, you figure things out. somebody's done it before, which means you canfigure it out just by throwing up your hands saying I can't do it. Like no, wedon't do that. As a family. Obviously, I've tried to instill in them like, Hey,this is what we do. We make it through. And so once I was laid off, and once aday, I realized like, Oh, my goodness, like, I now realized it was more risky,because I thought, oh, it's risky to invest in real estate, which everybodysays that, you know, in fact, I've lots of students who, when I coach, theythink, man, it's risky to invest in real estate. My like, the reason why I tellthe story, it's so much more risky, working for somebody else, who canliterally stop you from being able to pay for your family's food and roof overtheir heads. And so once I realized that it wasn't that much of a worryanymore, like it was like holding on to something that I did, I couldn't holdon to. And then once I realized, now I had an open hand in it, like my handswere open, I couldn't hold on to anymore. So I'm like, Well, now it's time toreally get out of this place. And so it was, it was liberating. Actually, infact, whenever I hear a friend of mine, friends, whenever new friends say,either I lost my job, or I need to quit, because XY and Z, and I want to go onmy own. I always tell them, that is the best thing you can ever do. And infact, you'll look back either scared right now, this is the best thing for you.Because you'll realize you'll figure it out, you'll make sure that you'll havea way to be able to provide for your family. There's back there's one friend ofmine, he was working a job, he knew he needed to quit. And he had a coupleideas of how we can make money. And he went ahead and quit. I didn't tell himto do it. But that's what he did. He called me up and everybody else was sayingthe opposite. Oh, man, you know, hey, I'll be praying for you. Oh, man,hopefully you get a new job soon, blah, blah, blah. And he called me I said,because I knew what other people would tell him. And he said, Hey, Dustin, Ijust, you know, just quit my job. I said to him, I am so excited for you, thisis the best thing for you because I know what you're capable of, because I do.I know what you're capable above. And I know what you can do for your family.Now, it's literally been two and a half years since he quit and now he has hisown businesses now he has everything going on because now having thatperspective that it can be taken away from you. That is that gets you motivatedto make sure that you don't have that over somebody who has that overhead thatnobody can do that again.

 

Billy Keels  19:54

And so the fact that you areyou are aware of that and you are helping others to be aware of that and evenup lifting when people are in that moment of, of consternation, that moment ofdifficulty. It's important that we hear stories like yours, Dustin, becauseyes, of course, in the moment, it can be difficult. But the important part is,what are you going to do after that? Because it's about understanding thatyou're starting to get, what skill set are you going to begin to build? Whatnetwork are you going to surround yourself with accountability partners are yougoing to have that are going to help to bring out the best in you? These arethe things that you want to think about before, something like that were tohappen. Trusting that you enjoyed today's conversation. And you know, if you'retired of getting crushed by taxes, and you're looking for greater freedom, tobe able to choose what you want to do, when you want to do it, make sure thatyou go to first ncp.com forward slash going long, and see how we can help youtoday. Let's get back to the conversation. So there's a couple of questionsthat I really knowing that you have a very particular expertise, that you havedecided to really niche down in a particular area. Maybe you can talk to usabout that, because the concept of real assets are so vast, and sometimes whenthe ocean is so large, you don't do anything, but you have really figured outwhat is your bread and butter, how are you going to build a repeatable processand also how you can help to educate and uplift others in the same space. Maybeyou could take us kind of through that what your where your focus area is why youselected that and how you're also helping others today.

 

21:24

Totally, totally. So when Ifirst realized, well, the first one was passive income, once I realized I couldwork once to get paid over and over again, like sign me up for that. That'swhat I like, Okay, the other path of working a job a career where you get paidone time, or for the one time work, that was bad. Now I realized passiveincome. So that was first that was the first mindset shift that I had to make.From that point forward. I realized I really like real estate, or at least Iwanted to do real estate, there's so many things out there so many differentways, from storage units to multifamily to rental properties, there'll be allthis sort of stuff. And so I realized as I was analyzing everything was that Iwanted a couple things. Number one passive income, I needed to make money everysingle month, I didn't want it in my IRA, I didn't want my 401k I didn't wantto 65 I wanted to now so that's number one. So I needed passive income to payfor food for my family. The second thing that I wanted was generational wealthto pass down to my kids. Now I personally invest in other people'ssyndications. I'm not a syndicator. I don't want to do that. But now I'mblessed to have enough money, that I can literally invest in syndications,which is fantastic, because I get part of the multifamily as well. On top ofthat, the reason why when with multi or sorry, residential, when I sayresidential four units and below, because obviously everybody knows all yourpeople know this, once you get five and above, it's the whole differenteverything. So with four units below, still get conventional loans, you stillhold, you know, 30 year, fixed loans, you get more people in there for units,but it's mainly the single family. Here's the second thing number one passiveincome. Second thing that I realized generational wealth, usually with amultifamily, you exit the property three to five years or whatever, it'swhatever the timeframe is, which can be longer, some can be shorter, but withmy residential properties, I will literally give these properties to my kids.And on top of that, I will teach them how they can do it themselves. They canget a job at Costco, make money and buy one house, keep working a job atCostco, make money, buy a second house and keep doing it over and over again.So let me quickly give you I'll give you the overall idea of what we do or howI figured out how to do this, right, because there's, there's plenty of wrongways to do it. In fact, let me quickly give you the wrong way. I'll quicklyeverybody forget it as soon as you hear this. But the runway is what this iswhat all the growth gurus this is what I first learned from the gurus, they sayyou buy one property, that's your business, that property is your business,that's wrong, we'll get that in a second. But let's say find a propertyanywhere in the country and then buy that property. Well, I'll fast forwardwhere it says they say run the numbers, make sure you basically make sureyou're making $50 a month in passive income. And we don't end it but you'll getan appreciation, you'll it'll go up in value, which pause that we don't ask forpassive income, we don't invest for appreciation, I'm going to give theseproperties to my kids. So appreciation. It's like that's great and all butpassive incomes what I want, I tap on the equity by doing a home equity line ofcredit and stuff like that. But anyways, we don't invest for appreciation, wehave asked my husband comm that's the first one. But what they do is say runthe numbers. Make sure you're making a little bit of money in passive income,get appreciation, then spend 1000s of dollars to buy the property, then spend1000s of dollars to fix up the property, then find a tenant and then find aproperty manager to manage the property. Well, my opinion remember that'swrong, this is wrong way. Forget this. But that's just about backwards. What wedo inherit master passive income as we build the business first. And this couldbe the same thing with syndications. Multifamily storage units, anything inlife where you're making money, look at it from a perspective of building thebusiness first. Now let me give you example what that looks like outside ofreal estate and bring it right back in. So if you're gonna start a conveniencestore, you know, it can be soda machines, candy bars, all that sort of stuff.Well, if you're gonna start one of those, you're not going to sign up based onthe location, open the doors and set a box of candy bars in there on theground. Now you wouldn't do that. In fact, you go out of business in like twoseconds. What you would do though, is you would build the business first youget the gondolas, the shelving units, that all the candy bars, go oncountertops, cold storage, bank accounts, cash registers, insurance, employees,everything in the business before you buy any inventory. Then once you have thebusiness built, you buy the inventory and put it in the business. Same thingwith real estate, investing, any type, multifamily single family, all that sortof stuff. You build the entire business first. And then remember, the guru saidthat property is your business. No, no. Our businesses own inventory, just likeany business out there. Our property is a piece of inventory that we buy thatwe put into the business. And so I look at all my properties, and you shouldask for any business that you have. You should look at your properties asinventory, your business owns inventory. From there, if you've already built thebusiness first find the right area of the country to invest we invest all overthe country, you're out of state, we love investing out of state. So anywherein the country to invest but you find an area that's right inventory, frominventory, we find the right property managers, we don't go out right tofinding properties that's jumping the gun, that's what the group is tellingyou. No, no, no, we find property managers because you don't start aconvenience store and grab somebody off the street and say, Hey, you got apulse, come here, manage my money and manage my inventory. Manage myeverything. Yeah, it's going to bad. So why would we do that with properties.So what we do is we inventory first in an area that we find property managers,then we find mortgage brokers to make sure or you know, funding financingprivate money, syndicating all that sort of stuff. And then we findcontractors, roofers, plumbers, inspectors, insurance agents, everything else.And then we find realtors and wholesalers people how we find the properties. Sothat's what we do, we build the entire business first. That's how I was able toscale my business so fast. I in six years, I had 30 Plus properties. And sowhat I did was I built the business. And then each property I bought, I put itinto the business as inventory because I already had the business running. Andhere's quickly how I'll quickly go over the last thing I'll say, and I'll letyou talk or ask question because you probably got a bunch of them. But the whatI realized was, I needed to quit my job, I need to make sure that I can takecare of my family with my humans investing. So I bought one property and mademe to under $50 a month. So if you bought one at 20 $50 a month in passiveincome, that's $3,000 a year. That's fantastic. But I thought, You know what?asked my wife, how much money do we need? Or what are our expenses every singlemonth, she said, I remember it was like $4,200 I for somebody that's like yourengrained in my brain $4,200 that we had to make. And I realized, okay, oneproperty at $250 month, 3000 hours a year check. If I had 10 properties, at$250 a month, it's $2,500 a month $30,000 a year in passive income. 20properties is $5,000 A month $60,000 a year in passive income without working.And I just realized, if I sacrifice and I buy property after property numberone, I'm creating generational wealth, I'm making money for myself, and thenI'm making money to invest in like multifamily syndications land, I could doall that sort of stuff. So because I realized now I had a business that ownsinventory, it literally runs itself. And I last thing I'll say is a lot ofpeople have heard of the book, The Four Hour Workweek, it's a good book andall. But I think working four hours a week is for suckers, I don't want to workfour hours a week, I only want to four hours a month, basically, I get myproperty management statements, I look at it, take me about 30 minutes a month,and make sure everything's good, and set them aside and go back to play with mykids. So that's what I do build a business and make sure the business hasinventory. Well, and

 

Billy Keels  28:30

so as you as you look, as youbuild the business, you make sure it has inventory. And you look at some of thebasic underlying foundational elements, which is really creating a passiveincome, being able to create generational wealth. And then you talk about thespecific process that you had, which is really not looking to buy the propertyfirst. But really continue to build the inventory, then make sure that you'rebuilding the team and that includes your property managers, then you're lookingfor your funding, and then you're and then you're moving into this specificproperty yourself. So it's clear that there is a process that you follow, it's providingyou with results. And in the results, the ultimate outcome is that you're ableto spend more time with the kids, because that's the stuff that really mattersat the end of the day. Right? 100. So yeah, so what so one of the things that Idid want to ask you, so you talk to us about that, but how are you also thenhelping to educate other people happen? I know that you have big passion aroundthe education portion, and you have a clear process. So maybe you can talk tous about what is it that you are doing to help me to bring this knowledge to awider audience as well?

 

29:34

Oh, yeah. And so what wasreally fun was as I was quitting my job or just about to quit my, you know, sixmonths, I was telling everybody, I would say, because they work for thegovernment, you know, they don't really just fire you for saying he want toquit because everybody wants to quit. But anyways, I was telling everybody,Hey, you know, I'm gonna be quitting my job soon. And they said, Well, how areyou going to do that? The first question. I said, Well, I invest in realestate. I make money without working. And the second question comes always likethe second questions always? Can you show me? I was like, you know, friends,family members, co workers, people from church, all that sort of stuff. And soI said, Sure. And I started telling people one on one just like your next door neighborliterally showing you how to do it. So I started teaching people one on one andI realized number two things. Number one I enjoyed doing it was fun. I loveseeing people's live chains. In fact, one of my friends, within like two and ahalf years, maybe three years at most, he was able to quit his job for him isthe best thing. I mean, it was just amazing. And then that was the first thingI realized I enjoyed it. The second thing that I realized was work or coachingpeople one on one it was it took so much time, it was hard, like it was almosta full time job because I had so many people doing it. And my wife startedsaying, Hey, you better start getting paid for this. Because it's like anotherjob that you're not getting paid for it like, oh, yeah, you're right. Soanyways, fast forward. Now. What I decided to do was like, You know what, maybethere's other ways that I can help people. So I wrote a book, instead of my oneon one time, I wrote a book, How to quit your job and rental properties. And Ijust give that out. I say, Here you go. And then when you need more help,because these are answer your beginner basic questions, great questions, butthey're beginner, these will answer them and you'll get better questions thatapply to you your situation, then you can we can talk and then I can help youout. So fast forward from that book that I created the podcast master passiveincome podcast, which is literally just me, I barely do interviews, it's mecoaching, teaching people how to do this stuff, me YouTube channel, where Ijust literally give away all XYZ, how to do all this stuff. But then if theywant my time, that's when I charge them. I have courses and coaching, groupcoaching, all that sort of stuff. But now it's literally getting thatinformation out there to everybody as best I can. And on top of that, I justcreated a conference called The Real Estate Wealth builders conference. And ifyou want to make money, don't start conferences. The goal is to help people,and the tagline is gathering to make investing better. And so it's not justsingle family homes, it's multifamily land investing, storage units, Airbnb,like literally every time and bet not flipping or wholesaling. That's notnecessary investing in my opinion. So we're sticking with investing. But whatwe do is, we had our first one in March, it was in Phoenix next year 2023. It'sgoing to be in Phoenix again in May, and then in 2024, to be in Orlando, sowe'll be on the east coast. But the reason why I built this conference wasbecause I wanted to help more people. So my first goal was in 10 years, I wantto quit my job, 37 years old, quit my job check got that. My second goal cameabout a year later, because I didn't have a goal, I was kind of floundering. Itwas to make a million dollars a year from all my businesses, but I kid you notBilly, you're probably the exact same way. I was so bored, I hated that goal.It did not get me out of bed at all. I mean, it'd be nice to have a milliondollars, but it was just, I'm not driven by money, then I realized that's a badgoal, then I change it to I want to help a million people to get financialindependence by investing in real estate. Fast forward. Now. That's why I havemy podcast coaching YouTube channel, and the Real Estate Wealth buildersconference, where it's literally gathering all together most real estateconferences. Last thing I'll say is most real estate conferences, their housesales pitches, they literally give you hype, and then now run to the back andgo give us 1000s of dollars on your credit cards, it's normally a milliondollars, we're gonna discount it to like 20 grand or whatever it might be. Thisconference is not that it's literally guys like you and me, Billy, that havedone it, we know what we're doing. And we just want to serve, we want to helppeople because I know and the reason big reason why I do this, I know my lifegets better. When the more people that I serve, the better my life gets, thebetter other people's life gets. And so with a conference, it's literally nosales pitch conference, we literally just come together, help each other out.Now there are vendors there that like sponsors that are going to be there thatprovide services that you go to, but not from us, like you and me, Billy, likepeople like us, we're just here to help. We're here to coach and teach people.So all the above, it's just so much fun. Because one more thing I like I gottasay, I see so many good things about being able where I'm at, where I have 40plus hours of my life back in my life, you know, successful unemployed, I buildbusinesses, but here's the biggest thing, we only want, we want to leave fourlegacies in our life. The first one, we have money legacy. So the money legacyaffords us to be able to do whatever we want. The second one from that moneygoes into a time legacy money leads in a time to do whatever we want, gowherever we want whatever we want to be so money leaves in time, time leadsinto relationships. Now we have time to spend on our relationships with ourfamily, church members, you know, society around us, whatever. From there, timeleads into service, you have enough money, money leads into your time back timeleads into relationships back then relationships leads and now to service. Onceyou get to that service legacy, it is absolutely life changing. I cannot getenough of serving people because like I said, the more lives that I touch. Themore people that I serve, the better my life gets in the better everybodyelse's life gets.

 

Billy Keels  34:44

Absolutely fantastic. And soit's clear for us that you are helping on a number of different levelseverything from being able to put your thoughts into books you talked about formost your most recent book, How to Quit your job with the rental properties andthe from They're also the podcasts and being able to share your knowledge thereand even take it to the next level in terms of being able to put on a conferenceand bring people together and be able to help in a, in a very specific face toface type of organ type of way. So maybe it's hybrid nowadays? I don't know.But I know it's face to face. Because you mentioned No, it's just okay. Justgathering. Because you said Orlando later. So,

 

35:22

totally. The reason whythere's no online component is because you can't duplicate what it's like at aconference. For other people. I get, I get so many insights, as well as peoplethat want investment with me. People pass him on deals like everything in theface to face conversations. Yeah.

 

Billy Keels  35:41

Very, very, very different.Very, very different. And so, you know, this is amazing stuff. And I am I can'teven believe like, we got to get into going long. Final three, man, we gottaget the thing. Dustin, I don't ever ask anybody that going on final three. Andtoday, you're our special guests. Unless you tell me that you're ready.

 

35:56

So are you ready? 100%

 

Billy Keels  35:58

I knew you would be I was Ithought you were gonna be like two and a percent. But yeah, that's modesty. Iget it. I get it. I get it. So listen, so we started with you over in Phoenix.I'd like to bring it back to this side of the pond. And we'd love for you toshare with me in the going long family. What is your favorite European citythat you visited or still on your bucket list to visit?

 

36:15

Oh, so there are so many. Soin 2018 I well. 2017. I took my wife and my once I quit my job. Six weeks inJapan literally drove like 2000 miles on the left hand side of Japan. It wasawesome. And then in 2018, we went to Europe went to 11 different countries, Iwould have to say my favorite city is Rome. I don't know why it was just Romeis. But there's lots of great cities don't me wrong. It's tons of amazing one.Fine, that's fine. Romans. Rome is

 

Billy Keels  36:41

eternal. Rome is eternal. TheEternal City. No, it's fantastic. Which is

 

36:45

I asked you're a traveler.Where should I go? If there's one thing because we love travelling? Don't getme wrong. We love travelling. Where should I go?

 

Billy Keels  36:53

I'll tell you about it. Well,we'll talk about we'll talk about okay, got 86 countries. So this is probablymore of an elaborate conversation that you and I will do it. So yeah, we lovetravelling. So I will definitely push you're travelling with a family of six.And so there's some things that we need to, we need to flesh out. Awesome. Sohere's the other thing, Dustin, a lot of times, and I'm sure you've seen this,like this, it comes from a lot of experience that I've had with working withvery successful people and having insights to work to seem very successfulpeople, a lot of people in the podcast people from my corporate life, etc, etc.,etc. And, and I know you have as well. And so hopefully you will understandthis and you agree because one of the things that separates really successfulpeople apart from everybody else is that very successful people unlike most,when they put together a plan, they put together the plan, but then they beginto execute the plan. And then the execution of the plan. They tend to getthings right the very first time which will allow them to go much faster. AndI'm just kidding. Don't worry. Dustin isn't going oh my gosh, how do we openabout this? Oh, it's just a joke. I like to have fun. Yeah, I like to have inthe family knows he's like, how do I help him out of this one? Because youknow, it's a joke. It's a joke, of course, really successful people. Not onlydo they make, do they not get things right the first time typically, theyusually get things wrong 20 to 50 times more than most people. Absolutely. Andso the thing that happens is, and that was kind of a joke before but this isthis is a reality. But the one thing that I have noticed with really successfulpeople is that they unlike most every single time that there is a relevantmistake or learning opportunity to call whatever you want, things didn't go aswere planned. Every time it's irrelevant, they stop, they learn from themistake. And then they put different strategies, tactics and actions in placeto minimize the probability of that exact same thing happening again. SoDustin, as someone who's very successful, I don't want you to think about themistakes that you made and all that kind of stuff. But I do want you to thinkabout an event. And most importantly, what is the one lesson that you learnedfrom that event that you know that the going long family needs to hear today?

 

39:03

Well, I definitely givenWell, whenever I hear people ask this question, as I hear the answers. They'reusually like big broad principles. But I will I'll give you a big broadprinciple that I learned as as well as like specific so that if you wantbecause usually I'm like, Oh, give me like something that actually happened. Sothis is what happened. This is

 

Billy Keels  39:21

just the lesson you don'teven have to tell us what happened. Just the lesson

 

39:25

wasn't gonna tell you becausethis, this leads into it. So the lesson is, and I told you build the businessfirst, but this is how I did it wrong. This is how I did it wrong. I followwhat those quote unquote gurus told you. And you know, do that all the wrongway hopefully forgot all that because that was bad information. But they tellyou, but I did that. And my property manager started stealing from me withinsix months. It was horrible. And if I want to give it up then because I Oh, woeis me. My wife say No, you did it wrong. Like give me this can't be done. If Iwas stopped. I wouldn't be here today. So my property manager started stealingfrom me and then I pause I saw had, I thought, Oh, my goodness, this is peoplehave done this in the past, like, I'm not the only one, I'm not trying torecreate the wheel, it's been done in the past. Let me see if I could figurethis out or, you know, read books or whatever. But this is what I figured out,I went the wrong way, I realized that I need to build the business instead offeeling in my property was my business. I can remember I'm entrepreneurial, Iapproached it from a business mindset instead of a quote unquote, investor typeof mindset. And so with that, what I realized was I needed to build thebusiness. So the big broad principle is number two things. Number one, I lovethe outcomes of failures, I don't love failures, I love the outcomes of thefailures. Because I grow I what I teach my kids is we figure things out, that'swhat we do, we figure it out. And so if it's done before, if somebody else cando it, I can do it. And with that, what I do is I make sure that, in thatfailure, I get that outcome of what I wanted. So fast forward, realize buildingthe business was the right way to go. And then the principle is, keep movingforward. If I would have given up and said, What was me, I wouldn't be heretoday.

 

Billy Keels  41:05

Absolutely love that. Andhaving that mindset, looking for the outcomes and being able to not have fearof failing forward, failing quickly. And then understanding what those outcomesand being able to adapt along the way. Thank you so much for providing thatDustin. And this brings us to the last question, man. And listen, I will alsojust reiterate to everyone that you are a four time author, your most recentbook that we're going to already include in the show notes, how to quit yourjob with rental properties, is going to be in the show notes. Aside from that,what is one book that you would recommend to us?

 

41:37

Oh, well, I'll give you oneand then quickly follow up with other your privates I know you got to do one,but I gotta get into number one is the Bible. That's it. That's, that's ifthere's anyone I'm gonna recommend, it's gonna be the Bible, but the one forbusiness that I would absolutely recommend. By far, most likely your audiencehas either heard it or read it or they know of it. But it's the richest man inBabylon. They might, your audience might be past that. But here's the biggestthing. It's the principles that bring in a fictional story. It's a fantasticstory. But the principle so it's written by Georges Causton. And it helpseverybody to learn financial principles that are lasting, lasting financialprinciples that you can create generational wealth with so Bible and thenRichest Man in Babylon,

 

Billy Keels  42:22

right, well, fantastic Bible,richest man in Babylon. Appreciate that, Dustin, and I cannot believe how quicklythese conversations go by. I'm thinking about the very beginning. You'retalking to us about 37 You're able to quit your job. You've done the work, you recognizethat, hey, listen, it wasn't about just trading your time for dollars. It wasabout being able to say how can I create more passive income, meaning incomethat is not directly related to you doing the work, you found an asset, whichwas a hard asset and real estate that you recognize is something that youenjoyed, you looked at all the different possibilities and you recognize toyourself Listen, what I really like, are these smaller multifamily and singlefamily residences for and below, that's your sweet spot, you've built not onlya great expertise, you've also built a network, you've built an educationsystem and you continue to not only have the, the the benefits of these hardassets, but also you're helping to educate and impact others to the fact thatyou've now recognized that you want to be able to impact and affect a millionlives across the globe. And so, aside from having the things that we talkedabout in the passive income, being able to create generational wealth, andhaving helping to set people free and with becoming have not been able tomaster their passive income, also becoming successful and employed. I know thateverybody here is like really just asking the question, man, so help usunderstand what's the best way to find out more about what you're doing Dustinand how they go along family can get in touch with you.

 

43:44

Absolutely, actually, I'llmaybe give you guys some numbers we've met if I give everybody something forfree. I give my course literally for free so they can get started. Go rightahead. Awesome. Yeah, so I'll literally give you my real estate advice. Of course,it's just a passion of mine to help people. So if you text the word rental, r en t a l 233777. Rental, the 337770 literally give you my real estate investingcourse. Absolutely for free. Show you how to find it area control, investanywhere in the country, we love investing out of state, how to build thebusiness first, how to make sure you're buying the right properties, how toscale the business so that you can quit your job. You can also go to masterpassive income.com forward slash free course all one word forward slash freecourse, or text word rental to 33777 or also and I had you on my podcast, thesuccessful unemployed podcast. I even have master passive income podcast whereit's literally just me, I really do interviews, and it's just me teaching howto do this rental property stuff. My YouTube channel, you know, just look upDustin Heiner, you'll probably find me anywhere but yeah, podcasting. And Idon't really do much on Instagram other than post my family stuff, so you wantto see what I'm doing. It's the Dustin Heiner I'm not that arrogant it's onwhen I could find but T H E. Dustin Heiner. So that's that's me but I love Ilove just helping so many people. I have the money have a website. This isamazing. So I created a course, that it's a DIY course you do it yourself,people would get in the course. And I was so disappointed that only like 20% ofthe people would finish it. I was like that I didn't create it just to makemoney. I created it. So you finish it. But what I did was, I traded a membership,where I now have group coaching, I tell you that those group coaches are somuch fun for me, because we have so many other students in there doing it beingsuccessful. And then everybody's feeding off each other. And I'm able to coacheverybody, every single step away, so I have that membership as well. But yeah,as much as I can. I just love to help and see people change their lives. MyReal Estate Wealth builders conference, if you go to our EWB C O n.com, RukhKhan, it's an acronym, rukh khan.com, you'll get, yeah, I just want to helpeverybody else. In fact, I can even Well, I'm getting out so many URLs, but Iwant to give everybody all your listeners because because of you, Billy, youmind, if I give them all a 10% off coupon code that goes through you,

 

Billy Keels  45:56

I think they would be okaywith that. Awesome.

 

45:59

Just type in the name Billytech, if you are buying your ticket type of name, Billy, and I'll give youeverybody else 10% off the ticket just because you're part of his audience.

 

Billy Keels  46:09

Oh, that's very kind of youdoesn't really appreciate that. So thank you very much. Listen, we're gonnamake it really easy for everybody. Because I know a lot of you are eitherrunning on the treadmill, or maybe you're driving the car, we're gonna putreally simple links in the in the show notes. So all you need to do is justclick the link. Don't worry, don't stop whatever you're doing, keep doing whatyou're doing. And just make sure you check out the show notes. So Dustin, listen,I really want to thank you for deciding to invest your time with me and theentire going long family. And thank you very, very much, Ben.

 

46:35

Thank you so much, Bill. Iappreciate you. It's great getting to know you too. Yeah. Likewise,

 

Billy Keels  46:39

likewise, Dustin, if you giveme like 10 seconds, and then I'll be out of here. Just a couple of last minutethings to go along family. Listen, everybody. Dustin is giving you so muchactionable content that you can take he's giving you things to think about ishelping you to also remember about how you can invest passively thinking aboutthe generational wealth. Make sure that you share today's conversation withfriends with family talk about the concepts that we've just talked about. Andwhile you're doing that, I'm going to be preparing the next conversation. Andso until then go out and make it a great day. And thank you very much. Trustthat you enjoy today's conversation and once again, today's conversation wassponsored by first generation Capital Partners. If you're an accreditedinvestor want to find out more about how we're helping accredited investors togain their personal freedom even faster. Go to firstgencp.com forward slashgoing long.

 

Billy Keels
Founder & CEO of FGCP
Billy is on a mission to share a roadmap and opportunities with other extremely busy, high-paid professionals on how to find financial freedom through investments. Listen in to learn how!
Guest speaker
Dustin Heiner
Founder at Master Passive Income
Dustin Heiner is an author, podcaster, and founder of Master Passive Income. He's passionate about teaching people how he quit his job with passive income so he could spend more time with his family and find independence.

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